2/1 Watchlist

Blue-chip stocks (SPY) are trading up within the range set in Friday's decline. After retreating from the 61.8 percent Fibonacci retracement level, SPY came close to the 50 percent retracement, but didn't cross the line.

The fear index (VIX) is in its movements today an inverse image of SPY (as it is designed to be).

Treasury 20- and 30-year bonds (TLT) declined below Friday's low before pulling back and it is again with the prior trading day's range. Gold (GLD) has risen back to levels seen last Wednesday and is now showing a Person's Proprietary Signal bull mark. (Although I'm no longer using the pps in trading -- the macd remains in bear mode but is rising toward the zero line.) The pps bull signal noted on this morning's yen per dollar currency pair (USD/JPY) remains in place.

No new macd signals among the high-volume exchange-traded funds.


Here's what's interesting among high-volume corporate shares:

• WFC is shows a macd bull signal on the fourth day since a rise began. However, it is showing a lower high so far today. Looking at a broader perspective, if it breaks above the 29.43 high set on Jan. 7 it will qualify as continuing its uptrend.
• USB shows a bear signal amid a very near term sideways trend. On a 3-month chart the stock shows an uptrend beginning Dec. 17. A move above 25.74 set on Jan. 21, or perhaps the 26.84 outlier set  the next day, will mark the beginning of the next leg up. A fall below the 24.12 low set Jan. 27 would mark the start of a move down at the end of a sideways pause.

Among my holdings, the CVS and ERTS iron condors remain in profitable territory. The MCO covered call remains below the exercise price. And PALM, poor covered call PALM, is way below exercise.



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Topics:
Wells Fargo banking finance, U.S. Bancorp, S&P 500, SPDR, Spiders, Treasury bonds, gold, precious metals, CVS, pharmacies, drugs, Electronic Arts games, Moodys bond rating, Palm smartphone Pixi Pri.